28.05.2018 - There is nothing more abundant than sports betting bonuses in the gambling world. No self-respecting online sportsbook operates without a couple of promotional bonuses running. The gambling industry is a true cut-throat business. This means that if a gambling site fails to attract new gamblers or keep their existing patrons it will disappear into oblivion never to be heard from again.Reasons for giving the bonus
These top internet gambling set-ups are after making money. They make their money by taking a percentage of every win that is paid out at the sportsbook. This is called the rake. However, the amount of profit that the site receives is directly proportional to the number of bets placed with the bookmaker.
This then means that the more the punters, the more money that the casino sites or sports-bet sites keep as profits. With a large number of sportsbooks both on land and on the internet, this is not an easy task.
Thus they came up with the idea of offering players bonuses. Online gambling has lower operational costs. This is due to the obvious reasons like having lower running costs like rent, wages and other operational costs.
This means they can collect more profit for the same kind of action that happens at land-based sportsbooks. It is part of this profit that the casinos give back to gamblers as bonuses. Another very common way of giving back to the punter is for the bookmaker to lower juice lines.
Juice lines are the fee that sites take for making the betting available. For example, in Australia, when you play Australian pokies online, some casino sites select to lower their income and share it with gamblers. This is not a direct promotion but it works well in retaining patrons.
What you need to know about sports betting bonuses
The sports betting bonuses come in different shapes and sizes, they are primarily unique to each sportsbook. Although the basic structure of bonuses may look the same across most major sports books, they differ in the requirements of the bonus. Take time to read and understand the terms and conditions of the bonus on offer before accepting it.